Core Insights - The core viewpoint of the article highlights the recent completion of nearly 100 million yuan A-round financing by Juwei Technology, a quadruped robot company based in Hangzhou, aimed at product development, team building, and expanding application scenarios and ecosystem construction [2] Group 1: Company Overview - Juwei Technology was established in 2025 and focuses on the research and application of embodied intelligence technology [2] - The core R&D team comprises members from prestigious institutions such as Stanford University and Zhejiang University, providing a strong foundation for technological innovation and product iteration [2] - The company maintains close collaborations with top research institutions, including a partnership with Zhejiang University for industry-academia-research cooperation [2] Group 2: Product and Technology - The flagship product, MOVENEW T1, features self-developed AI automatic following, obstacle avoidance, and modular design, showcasing strong performance across various applications such as mountaineering, camping, and emergency rescue [4] - Juwei Technology focuses on special scenarios with "four defenses" (anti-magnetic, anti-explosion, waterproof, and freeze-proof) and operates effectively in a wide temperature range from -40°C to 85°C, achieving IP67 industrial protection level [4] - The company is the first in the industry to complete control and communication testing in a 1000 Gauss strong magnetic environment and is expected to obtain explosion-proof certification for its robotic dog by March this year [4] Group 3: Market Potential - The business scope of Juwei Technology covers nearly a thousand industry scenarios, including public security, emergency response, firefighting, oil, and coal, demonstrating a replicable growth trend in multiple vertical fields [4] - Industry analysis predicts that the quadruped robots could replace human operations in approximately 20 million scenarios that involve dangerous inspections, extreme environment operations, and high-load transportation [4]

Group 1 - The event "Digital Intelligence Empowering Ecology 'Supply' Sharing New Future" was held in Chongming, Shanghai, focusing on regional development and capital market empowerment for the real economy [1][2] - Key stakeholders, including government officials and representatives from listed companies, participated in discussions on regional development, policy support, and innovative investment relations management [1] - The "Top 100 Secretaries" award ceremony recognized 200 outstanding secretaries and 10 excellent secretary teams, highlighting the importance of the capital market and the role of secretaries [1] Group 2 - A sub-forum on equity mergers and acquisitions provided a platform for companies to showcase their core advantages and link industry resources [2] - Several listed companies, including Huayou Cobalt and Dongxin Technology, participated in a roadshow, attracting over a hundred institutional professionals to facilitate efficient connections between listed companies and capital [2] - The event was co-hosted by Shenzhen Yao Research Technology Co., Chongming District Supply and Marketing Cooperative, and Shanghai Dongtan Construction Group, with support from Suzhou Investment Relations Technology Co. [2]

Market Review - The Huaxia Sci-Tech AI ETF (589010) increased by 2.74%, closing at 1.610 yuan, with 20 out of 30 constituent stocks rising, led by Lanke Technology with an 11.90% gain [1] - The Robot ETF (562500) rose by 1.73%, closing at 1.116 yuan, with 46 out of 66 constituent stocks closing higher, led by Tianzhihang with a 12.38% increase [1] - The overall trading volume for the Huaxia Sci-Tech AI ETF reached 145 million yuan, with a turnover rate of 5.49%, indicating active trading participation [1] - The Robot ETF saw a trading volume of 1.47 billion yuan and a turnover rate of 5.57%, reflecting orderly capital turnover during the sector's recovery [1] Hot News - Hugging Face reported that the number of Qwen derivative models has surpassed 200,000, making it the first open-source large model to achieve this milestone, with downloads exceeding 1 billion [2] - Elon Musk stated that the initial production speed of the Cybercab autonomous taxi and Optimus humanoid robot will be "extremely slow," with mass production planned for 2026 [2] - Haon Electric (301488) is collaborating with NVIDIA on a robot domain control brain product, which is currently in development and has not yet generated revenue [2] Institutional Views - Guotou Securities believes that the AI application field is rapidly developing, showing significant breakthroughs in theoretical research and technological innovation, as well as strong vitality and broad market prospects across various industries [3] Popular ETFs - The Huaxia Sci-Tech AI ETF (589010) is positioned to capture the "singularity moment" of the AI industry, with a 20% fluctuation range and small-cap elasticity [4] - The Robot ETF (562500) is the only ETF in the market with a scale exceeding 20 billion, offering the best liquidity and comprehensive coverage of the Chinese robotics industry chain [4] - Recent adjustments to the constituent stocks of the Robot ETF have increased the humanoid robot content to nearly 70%, successfully removing underperforming stocks and retaining strong performers [4]

豪恩汽电在互动平台表示，公司和英伟达合作开发的机器人域控大脑产品目前处于正常开发阶段，公司 将在产品完善、客户需求确定并保证所有相关事宜妥当后及时进行相关产品的推出。同时该域控产品暂 未形成收入，请广大投资者注意投资风险。 ...

豪恩汽电（301488.SZ）1月21日在投资者互动平台表示，公司的短距补盲激光雷达目前处于正常开发 中，可以应用在智能驾驶和机器人上。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘你好！请问贵司的激光雷达产品布局进展如何？ 应用场景有哪些？ ...

每经AI快讯，1月21日，豪恩汽电（301488）在互动平台表示，公司与英伟达合作开发的域控为机器人 大脑，可应用于人形机器人、工业机器人、物流机器人等多个领域。同时公司在机器人感知领域的相关 产品已实现量产供货，暂未对营业收入产生重大影响。 ...

Group 1 - The company, Haon Auto Electric (301488.SZ), is collaborating with NVIDIA to develop a domain controller that serves as the "brain" for robots, applicable in humanoid robots, industrial robots, and logistics robots [1] - The company has achieved mass production of related products in the robot perception field, although it has not yet significantly impacted revenue [1]

Group 1 - The core viewpoint of the article is that Haon Automotive (301488.SZ) is in the normal development stage of a robot domain control brain product in collaboration with NVIDIA [1] - The company will launch the product once it is perfected, customer needs are confirmed, and all related matters are properly addressed [1] - Currently, the domain control product has not generated any revenue [1]

格隆汇1月21日丨豪恩汽电(301488.SZ)在互动平台表示，公司和英伟达合作开发的机器人域控大脑产品 目前处于正常开发阶段，公司将在产品完善、客户需求确定并保证所有相关事宜妥当后及时进行相关产 品的推出。同时该域控产品暂未形成收入。 ...

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the automotive industry [5] Core Insights - The automotive industry in China is expected to achieve record production and sales in 2025, driven by policies encouraging vehicle trade-ins and the release of new models [5] - The passenger vehicle market is showing steady growth, with production and sales surpassing 30 million units in 2025, and domestic brands capturing nearly 70% of the market share [5] - The commercial vehicle market is recovering, with production and sales exceeding 4 million units, particularly strong performance in the new energy heavy truck segment [5] - New energy vehicles (NEVs) are experiencing rapid growth, with production and sales reaching approximately 1.66 million units in 2025, accounting for nearly 50.8% of domestic sales [5] - The report highlights two main investment themes: the acceleration of L3 level autonomous driving commercialization and the transition of automotive technology towards robotics and liquid cooling systems [5] Industry Performance Review - As of January 20, 2026, the automotive (CITIC) industry index increased by 4.07%, outperforming the Shanghai Composite Index by 2.15 percentage points [10] - Over 75% of automotive stocks saw an increase in value, with notable performers including Jiaoyun Co., Saifu Technology, and Siliang Zhidu [16] - The automotive sector's PE (TTM) is at 34.4 times, ranking 15th among 30 CITIC primary industries, while the PB (LF) is at 2.7 times, ranking 80th percentile [19] Key Data Tracking Industry Overview - In 2025, the total production and sales of automobiles reached 34.53 million and 34.40 million units, respectively, marking a year-on-year increase of 10.4% and 9.4% [27] Passenger Vehicles - Passenger vehicle production and sales for 2025 reached 30.27 million and 30.10 million units, with year-on-year growth of 10.2% and 9.2% [41] Commercial Vehicles - Commercial vehicle production and sales for 2025 totaled 4.26 million and 4.30 million units, reflecting year-on-year increases of 12% and 10.9% [56] New Energy Vehicles - New energy vehicle production and sales reached 1.66 million and 1.65 million units in 2025, with a market share of 47.9%, up 7.01 percentage points year-on-year [67]