Core Viewpoint - Shenzhen Zhaowei Electromechanical Co., Ltd. announced the change of its controlling shareholder's name and other business information, which has been officially registered without affecting the shareholding structure or actual control of the company [1][2]. Group 1: Shareholder Information - The controlling shareholder, previously known as Shenzhen Qianhai Zhaowei Financial Holdings Co., Ltd., has changed its name to Shenzhen Qianhai Zhaowei Investment Co., Ltd. [1] - The new business license includes a unified social credit code of 91440300326652578T and a registered capital of 10 million yuan [1]. - The company type is classified as a limited liability company, established on March 3, 2015, with the legal representative being Xie Yanling [1]. Group 2: Business Scope - The business scope includes investment in industrial projects (specific projects to be declared separately), leasing of self-owned properties, domestic trade (excluding specialized, exclusive, and controlled products), and import-export business (excluding prohibited projects) [1]. - The company also engages in enterprise management consulting and investment activities using its own funds, with operations conducted in accordance with the business license [1].

Group 1 - The company, Zhao Wei Electromechanical, announced that it has received a notification from its controlling shareholder, Shenzhen Qianhai Zhao Wei Financial Holdings Co., Ltd., regarding changes to its business name and scope [2] - The company has completed the registration procedures for the business changes and has obtained a new business license issued by the Shenzhen Market Supervision Administration [2]

Group 1: Wearable Devices and IoT - AI glasses and camera headphones remain the focus of wearable devices, with over 50 companies participating, primarily from mainland China, emphasizing aesthetics, lightweight design, all-day wear, multimodal interaction, and multi-chip solutions [1] - The innovation in headphones has shifted from single audio performance to a comprehensive evolution of sound quality, AI, and multimodal capabilities, with some products integrating cameras and environmental sensing [1] - New IoT categories such as smart imaging devices, 3D printers, and NAS are gaining attention, with many startups entering the market, alongside creative new products in AI home, AI recording cards, and AI displays [1] Group 2: Automotive Industry - AI is driving the intelligent upgrade of the entire automotive chain, with high-level autonomous driving expected to achieve large-scale implementation [2] - Chip manufacturers like NVIDIA are releasing open-source AI models to accelerate technology penetration and commercialization in the autonomous driving sector [2] - Domestic automakers such as Geely and Great Wall are showcasing their AI systems, while international companies like Mercedes and Jaguar Land Rover are partnering with AI giants to enhance their capabilities [2] Group 3: Robotics - Home and service robots are continuously upgrading, with traditional vacuum robots evolving to cover more cleaning scenarios and showcasing new intelligent models [3] - Humanoid robots remain a focal point, with companies demonstrating robots capable of complex movements and interactions [3] - The participation of domestic electronic industry companies in showcasing robotic components and manufacturing products has increased significantly [3] Group 4: PCs and Smartphones - Lenovo has introduced a cross-device super intelligent entity, Lenovo Qira, and partnered with NVIDIA for a new AI cloud super factory initiative, showcasing a range of AI-integrated devices [4] - Chip companies are upgrading edge chips to enhance the PC experience, with major players like Intel, Qualcomm, and AMD leading the advancements [4]

Investment Rating - The industry investment rating is "Overweight" [1] Core Insights - The report highlights the active mergers and acquisitions in the industry, focusing on global expansion and cutting-edge cooling technologies [3] - The implementation of the "Artificial Intelligence + Manufacturing" initiative aims to enhance the application of AI in manufacturing, with specific targets set for 2027 [13] - The CES exhibition showcased significant advancements in humanoid robotics, with Chinese brands leading in global sales [16] Summary by Sections 1. Policy Tracking - The "Artificial Intelligence + Manufacturing" initiative was released on January 7, 2026, aiming for significant advancements in AI technology and its application in various manufacturing sectors by 2027 [13] - The initiative includes the development of high-level industrial intelligent bodies and the promotion of typical application scenarios [13][14] 2. Robotics Industry Dynamics - The CES exhibition featured numerous Chinese companies showcasing their innovations in humanoid robotics, including products from companies like Zhiyuan Robotics and others [15] - Zhiyuan launched a new simulation platform, Genie Sim 3.0, which integrates advanced technologies for creating high-fidelity environments [16] - The report notes that Zhiyuan's AGIBOT leads in humanoid robot sales globally, with significant market share projected for 2025 [16] 3. Recent Tracking of Export Chain Companies - Juxing Technology forecasts a net profit of 2.419 to 2.764 billion yuan for 2025, reflecting a growth of 5% to 20% year-on-year [20] - The company has shown resilience despite external challenges, with a focus on e-commerce channels and product innovation contributing to its growth [22] - Jack Technology is transitioning to a smart manufacturing service provider, emphasizing the development of AI-integrated sewing machines and solutions for the garment industry [28][29] 4. Market Review - The report notes that the mechanical equipment industry outperformed the broader market, with a weekly increase of 5.39% compared to a decline of 2.79% in the CSI 300 index [31]

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。 深圳市兆威机电股份有限公司（以下简称"公司"）于近日收到控股股东深 圳前海兆威金融控股有限公司的通知，其对名称、经营范围的工商信息进行了变 更，并已完成工商变更登记手续，取得了由深圳市市场监督管理局换发的《营业 执照》。变更后的《营业执照》主要信息如下： 名称：深圳前海兆威投资有限公司 统一社会信用代码：91440300326652578T 证券代码：003021 证券简称：兆威机电 公告编号：2026-001 深圳市兆威机电股份有限公司 关于控股股东变更名称及其他工商信息暨完成工商变更登 记的公告 注册资本：1,000 万元 类型：有限责任公司 成立日期：2015 年 03 月 03 日 法定代表人：谢燕玲 深圳市兆威机电股份有限公司 住所：深圳市前海深港合作区南山街道梦海大道 5033 号前海卓越金融中心 （一期）8 号楼 1207 经营范围：投资兴办实业（具体项目另行申报）；自有物业租赁；国内贸易 （不含专营、专卖、专控商品）；经营进出口业务（法律、行政法规、国务院决 定禁止的项目除外，限制的项目须取得许可 ...

Market Performance - The A-share market has shown a trend of slight upward movement, with the Shanghai Composite Index and Shenzhen Component Index experiencing increases of 1.09% and 1.75% respectively on the previous trading day [1] - The average P/E ratios for the Shanghai Composite Index and ChiNext Index are currently at 16.87 times and 52.69 times, indicating a suitable environment for medium to long-term investments [8][9] Economic Policies and Trends - The National Business Work Conference emphasized eight key areas for 2026, including boosting consumption and developing a digital and green consumption environment [2][6] - The Ministry of Industry and Information Technology has launched a "Artificial Intelligence + Manufacturing" initiative to promote the integration of AI with the manufacturing sector [2][6] Industry Insights - The semiconductor industry has shown strong performance, with a 5.11% increase in December 2025, outperforming the broader market [13] - Global semiconductor sales continued to grow, with a year-on-year increase of 29.8% in November 2025, indicating robust demand, particularly in AI-related hardware [14] - The gaming industry is experiencing steady growth, with animation films leading box office revenues, highlighting a shift in consumer preferences [20][22] Investment Recommendations - Focus on sectors such as technology, particularly in electric equipment and semiconductors, as well as high-dividend stocks, to capitalize on ongoing market trends [11][12] - In the food and beverage sector, attention is drawn to soft drinks, health products, and baked goods, which are expected to perform well in the current market environment [16][18] Sector-Specific Developments - The power and utilities sector is collaborating with tech giants like Google to enhance AI capabilities, indicating a trend towards technological integration in traditional industries [29] - The photovoltaic industry is witnessing price increases in silicon wafers and batteries, suggesting a potential for growth in related sectors [31]

Market Performance - The electric motor sector increased by 1.6% compared to the previous trading day, with Huari Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] Stock Performance - The top performers in the electric motor sector included: - Benrui Co. (300626) with a closing price of 18.01, up 8.49% and a trading volume of 223,100 shares, totaling 403 million yuan [1] - Xiangming Intelligent (301226) with a closing price of 35.88, up 8.04% and a trading volume of 101,000 shares, totaling 357 million yuan [1] - Jiadian Co. (000922) with a closing price of 15.28, up 5.89% and a trading volume of 238,500 shares, totaling 359 million yuan [1] Capital Flow - The electric motor sector experienced a net outflow of 554 million yuan from institutional investors, while retail investors saw a net inflow of 591 million yuan [2] - The capital flow for specific stocks showed varied trends, with Jiadian Co. (000922) having a net inflow of 43.61 million yuan from institutional investors [3]

Core Viewpoint - Zhaowei Electric's stock price has shown a modest increase this year, with significant growth over the past 20 days, indicating positive market sentiment towards the company and its operations [2]. Group 1: Stock Performance - As of January 12, Zhaowei Electric's stock price decreased by 2.03% to 126.32 CNY per share, with a trading volume of 256 million CNY and a turnover rate of 0.96%, resulting in a total market capitalization of 30.406 billion CNY [1]. - Year-to-date, Zhaowei Electric's stock has risen by 1.72%, with a 3.41% increase over the last five trading days, a 19.37% increase over the last 20 days, and a 6.03% increase over the last 60 days [2]. Group 2: Company Overview - Zhaowei Electric, established on April 19, 2001, and listed on December 4, 2020, is located in Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of micro transmission systems, precision injection parts, and precision molds [2]. - The revenue composition of Zhaowei Electric includes micro transmission systems (63.25%), precision parts (30.44%), and precision molds and other products (6.31%) [2]. - The company operates within the electric equipment sector, specifically in motor categories, and is associated with concepts such as BYD, new energy vehicles, reducers, charging piles, and robotics [2]. Group 3: Financial Performance - For the period from January to September 2025, Zhaowei Electric achieved a revenue of 1.255 billion CNY, representing a year-on-year growth of 18.70%. The net profit attributable to shareholders was 181 million CNY, reflecting a year-on-year increase of 13.86% [2]. - Since its A-share listing, Zhaowei Electric has distributed a total of 333 million CNY in dividends, with 192 million CNY distributed over the past three years [3]. Group 4: Shareholder Information - As of September 30, 2025, Zhaowei Electric had 51,000 shareholders, a decrease of 8.28% from the previous period, with an average of 4,066 circulating shares per shareholder, an increase of 9.63% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 3.4455 million shares, an increase of 1.6249 million shares from the previous period. New entrants include the E Fund National Robot Industry ETF, holding 2.775 million shares [3].

Investment Rating - The report rates the mechanical industry as "Overweight" [5] Core Insights - The mechanical equipment index increased by 5.98% during the week of January 5 to January 9, 2026, outperforming the CSI 300 index, which rose by 2.79% [8] - China has submitted applications for 203,000 new satellites covering 14 satellite constellations, indicating a significant expansion in the commercial space sector [5] - The CES 2026 showcased advancements in humanoid robots, with companies like Upward and Boston Dynamics unveiling new models, highlighting the industry's shift towards diversification and automation [5] Summary by Sections Weekly Market Summary - The mechanical equipment sector's performance was ranked 10th among 31 first-level industries, with a weekly increase of 5.98% [8] - The mechanical industry index has risen by 53.09% since the beginning of 2025, compared to a 24.57% increase in the CSI 300 index [10] Key Macro Data - The manufacturing PMI for December 2025 was reported at 50.1%, indicating stable growth in the sector [15] - The production index and order index for December 2025 were 50.8% and 51.7%, respectively, suggesting positive trends in manufacturing activity [21] Sub-industry Data Summary Engineering Machinery Industry - Excavator sales in December 2025 reached 23,095 units, a year-on-year increase of 19.2% [36] Machine Tool and Industrial Robot Industry - Industrial robot production in November 2025 was 70,188 units, reflecting a year-on-year growth of 20.6% [41] Rail Transit Industry - The cumulative production of EMUs from January to November 2025 was 1,722 units, with November production showing a year-on-year increase of 24.1% [45] Oilfield Equipment Industry - The global active drilling rig count was 1,813 units as of November 2025, with Brent crude oil averaging $63.34 per barrel on January 9, 2026 [53] Semiconductor Equipment Industry - Semiconductor sales in November 2025 reached $75.28 billion, with a month-on-month increase of 3.53% [76] Key Company Earnings Forecast - The report recommends several companies for investment, including: - Humanoid Robots: Hengli Hydraulic, Changying Precision, and others [5] - Chip Equipment: Keri Technology [5] - Commercial Aerospace: Plit [5] - AI Infrastructure: Ice Wheel Environment, Hanzhong Precision, and others [5] - Engineering Machinery: Sany Heavy Industry, XCMG, and others [5] - Export Chain: Honghua Digital Science, Juxing Technology, and others [5]

Core Insights - The 2026 International Consumer Electronics Show (CES 2026) opened in Las Vegas, focusing on "human-centered AI applications," with over 4,500 companies from more than 150 countries participating, including 207 Chinese companies, showcasing strong industrial competitiveness [1][8] - ZWHAND, a sub-brand of Zhao Wei Electric, made its debut with the global launch of the 20-degree-of-freedom dexterous hand, highlighting China's technological breakthroughs in core robotic components and marking a significant moment in the domestic substitution trend [1][3] Product Highlights - The ZWHAND B20 dexterous hand features 20 independent degrees of freedom, surpassing the industry standard of 6-15 degrees, with a load capacity of 5 kg and a tactile sensing threshold of ±0.1N, ensuring precision in complex operations [3][5] - ZWHAND also showcased a full product matrix, including the 17-degree-of-freedom bionic dexterous hand (A17) for humanoid robots and a 6-degree-of-freedom dexterous hand (B06) for entry-level applications, demonstrating comprehensive coverage across various scenarios [5] Technological Innovation - The ZWHAND B20 employs a fully direct-drive design, integrating Zhao Wei Electric's micro-drive technology, achieving a balance between lightweight and high performance, suitable for applications in precision assembly, medical assistance, service robots, and high-end intelligent manufacturing [5][8] - The product's technology aligns with CES 2026's theme, particularly in the context of "physical AI and embodied intelligence," facilitating a closed-loop control system that reduces the barriers to commercializing robotic technology [8][10] Market Recognition and Expansion - ZWHAND's interactive experience zone at CES 2026 attracted significant attention, with international audiences expressing high interest in the dexterous hand's capabilities, indicating a strong potential for global market expansion [6][9] - The brand has established initial connections with several international humanoid robot companies, laying a solid foundation for overseas market development [6][9] Strategic Positioning - ZWHAND's participation at CES 2026 signifies a transition from "concept validation" to "commercial capability output" in the domestic robotic core components industry, breaking the foreign monopoly in high-degree-of-freedom dexterous hands [8][9] - Supported by Zhao Wei Electric's global strategy, ZWHAND is positioned to leverage its international subsidiaries and patent resources to enhance its market share in the global arena [9][10]