Core Insights - The AI and robotics industry is entering a high prosperity window due to supportive policies and technological advancements, such as the launch of OpenAI's new flagship AI model GPT-5 [2][4][16] - The RWA registration platform has been officially launched in Hong Kong, which is expected to facilitate scene expansion and large-scale applications, particularly in green bonds and carbon credits [4][17] Economic Data - Recent economic data indicates a stable improvement in China's macroeconomic environment, with July's CPI remaining flat year-on-year and PPI decreasing by 3.6% year-on-year, reflecting the effects of demand expansion and improved market competition [4][14] - China's total goods trade value in July reached 3.91 trillion yuan, a year-on-year increase of 6.7%, indicating a positive trend in trade [4][14] Policy Developments - The People's Bank of China and other departments have released guidelines to support new industrialization, emphasizing the need for a financial system that aligns with industrial advancement and prevents "involution" competition [4][15] - The 2025 World Robot Conference highlighted key trends in the robotics industry, including the shift of humanoid robots from laboratory settings to industrial applications, and the focus on embodied intelligence [4][16] Investment Recommendations - In the context of ongoing supply-side reforms, attention should be paid to the demand-side dynamics to escape the "involution" dilemma, particularly in emerging industries like photovoltaics, lithium batteries, and new energy vehicles [4][17] - The AI industry is expected to thrive with continued support for domestic alternatives and technological advancements, particularly in computing power and energy efficiency [4][17]
北交所策略研究报告:AI与机器人产业高景气
Capital Securities·2025-08-12 11:28