格隆汇2月9日丨敏实集团(00425.HK)发布公告，集团已与绿的谐波(688017.SH)就拟于美国成立合资公 司的主要条款达成框架协议，该合资公司将致力于在北美开展人形机器人关节模组总成的设计、制造及 商业化拓展。 在获得适用监管批准的前提下，加州敏实(即Minth California Inc.，为公司的全资附属公司)与绿的谐波 将成立合资公司并订立合资协议及股东协议。预期加州敏实与绿的谐波将分别持有合资公司60%及40% 的股权。合资公司的初始资本出资总额预计为1000万美元(约合7800万港元)，将由加州敏实与绿的谐波 按其初始持股比例进行出资。 根据框架协议，集团将与绿的谐波携手加速北美市场的拓展。依托集团的全球资源与平台以及绿的谐波 在传动领域方面的技术专长，双方致力于通过优势互补深化在人形机器人关节模组领域的合作，实现产 业联动及互利共赢，从而为双方开辟新的收入来源。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 MINTH GROUP LIMITED 敏實集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：425） 自願公告 人工智能機器人領域之框架協議 本公告系本公司自願刊發，以使本公司股東及潛在投資者獲悉本集團的最新業務發 展。 本公司欣然宣佈，本集團已與綠的諧波就擬於美國成立合資公司的主要條款達成框 架協議，該合資公司將致力於在北美開展人形機器人關節模組總成的設計、製造及 商業化拓展。 框架協議主要條款之概要載列如下。 有關本集團的資料 本集團主要擁有兩大類業務，即汽車零部件和工裝模具的研發（「研發」）、生產和銷 售。本集團汽車零部件業務主要包括金屬及飾條、塑件、鋁件和電池盒等產品。工 裝模具業務主要包括汽車外飾件、車身結構件在開發、加工和生產過程中的各類模 具、檢具與夾具。本集團亦積極開拓新的賽道和產品，聚力發展第二增長曲線。本 集團聚焦人工智能、機器人、低空經濟、智能出行等新領域的研發和開拓。 ...

Investment Rating - The report maintains a "Recommended" rating for key companies in the electric power equipment and new energy sectors, including Ningde Times, Keda Li, and others [6][7]. Core Insights - The global photovoltaic market is expected to maintain high growth during the "14th Five-Year Plan" period, with annual new installations projected to reach 725-870 GW globally and 238-287 GW domestically [3][39]. - The electric power equipment sector is witnessing significant developments, including the approval of major grid projects and the awarding of contracts for high-voltage equipment [4][39]. - The new energy vehicle market continues to show strong momentum, with major manufacturers reporting significant year-on-year delivery increases [2][14]. Summary by Sections New Energy Vehicles - In January 2026, several new energy vehicle manufacturers reported substantial delivery growth, with NIO delivering 27,182 units (+96.1% YoY) and BYD maintaining a leading position with 210,051 units delivered [2][14][24]. - The third China All-Solid-State Battery Innovation Development Summit was held, focusing on key materials and technological advancements [2][27]. New Energy Generation - The photovoltaic industry is transitioning from scale expansion to high-quality development, with a focus on technological integration and new application scenarios [39][40]. - The cancellation of export tax rebates for photovoltaic products starting April 1, 2026, marks a shift to full market competition, pushing companies towards innovation and sustainable competitiveness [45][48]. Electric Power Equipment and Automation - The State Grid's recent tender for ultra-high voltage equipment involved 119 packages, with 115 awarded, indicating robust demand in the sector [4][39]. - The approval of the first major grid project by the National Development and Reform Commission signifies a positive outlook for infrastructure development in the electric power sector [4][39]. Commercial Aerospace - The domestic first "one rocket, 36 satellites" satellite launch technology facility has been accepted, indicating advancements in commercial aerospace capabilities [5]. Market Performance - The electric power equipment and new energy sector saw a weekly increase of 2.20%, outperforming the Shanghai Composite Index, with lithium battery and solar indices showing significant gains [1].

Group 1 - The stock market showed a low opening but rebounded, with the robotics concept recovering and turning positive. The robotics ETF (159770) saw a 1.12% increase in its index during trading, with a transaction volume of 132 million yuan. Key stocks such as Tianzhihang-U, Ruishun Technology, and Top Group rose over 5% [1] - The robotics ETF (159770) experienced a net subscription of over 16 million shares during the trading session, accumulating a net inflow of 194 million yuan over the last five trading days. As of February 5, 2026, the fund's latest scale reached 9.826 billion yuan, making it the largest in its category in the Shenzhen market [1] - The ETF closely tracks the robotics index, with major industry allocations including automation equipment (42.75%), software development (11.1%), and automotive parts (10.3%). The top five constituent stocks are iFlytek, Huichuan Technology, Top Group, Zhongkong Technology, and Dazhu Laser [1] Group 2 - Longcheng Securities believes that 2026 will be a critical year for mass production of robots both domestically and internationally, with companies like Tesla, Yushun, and Xiaopeng clearly outlining their production timelines. This will create high growth opportunities in core areas of the supply chain, such as lead screws, electronic skin, and "robot brains" [2] - Li Xiang, the founder of Ideal Auto, stated that the ultimate form of a car is a robot, aiming to transform vehicles into intelligent entities that actively serve users. The new Ideal L9 set to be released this year is expected to be a pioneering product in embodied intelligent robotics [1]

放眼全球，机器人教育的蓬勃发展，离不开公益力量的推动。 作为一家非营利组织，美国的FIRST基金会主办一系列青少年机器人对抗赛事，助推机器人赛事蓬勃发展的 同时，也树立起科技公益的典范。它用公益的模式，让无数孩子有机会触摸科技，将"想都不敢想"变成 了"我也可以"。 在中国，ROBOTAC作为一项拥有深厚积淀的中国原创赛事，同样流淌着"科技向善"的血液。自诞生以来， ROBOTAC赛事鼓励创新，更鼓励分享；它看重技术，更看重技术传递背后的协作与拼搏精神。赛事的举办 不仅仅是为了决出一个冠军，而是为了构建一个良性的、可持续的青年科技人才培养生态。 而今，赛事迎来了发展历程中一座新的里程碑，很荣幸得到全国性公益组织坚实有力的支撑——中华国际科 学交流基金会正式成为全国大学生机器人大赛ROBOTAC的指导单位！北京深蓝智能机器人研究院作为 ROBOTAC赛事的发起实施和版权单位，将与中华国际科学交流基金会携手推动赛事规范化、国际化发展， 并在中华国际科学交流基金会"双推双促工程"第二届新动能科技成果征集活动（2026年）中联合发起"机器 人+人工智能"专项，共同参与优秀科技成果的发现、筛选、链接与落地服务，助力青年 ...

Core Viewpoint - The collaboration between Liaoning and Jiangsu provinces aims to enhance industrial chain integration, particularly in the robotics sector, to promote high-quality development and regional innovation [1][2][3]. Group 1: Event Overview - The Liaoning-Jiangsu Key Industrial Chain Collaboration Initiative was launched on February 5, featuring over 150 participants from government, enterprises, and research institutions [1]. - The initiative aligns with national strategies to strengthen urban coordination and promote efficient collaboration in regional innovation and industrial chains [1]. Group 2: Collaboration Foundation - Liaoning and Jiangsu have established a solid foundation for cooperation, with complementary industrial structures and significant potential for collaboration in technology transfer and industrial chain synergy [2]. Group 3: Focus on Robotics Industry - The robotics industry was chosen as the initial focus due to both provinces' strong capabilities and accumulated advantages in this field, aiming to create a demonstration effect [3]. - Liaoning is committed to developing its artificial intelligence core industry and seeks deep collaboration with Jiangsu in technology research and market expansion [3]. Group 4: Opportunities and Agreements - The event facilitated significant interactions, leading to a better understanding of Liaoning's industrial advantages and numerous future collaboration opportunities in specialized robotics applications [4]. - A total of 15 cooperation agreements were signed during the event, including partnerships between major companies and local enterprises, focusing on emerging business areas such as sensors [4].

Market Overview - A-shares experienced fluctuations with major indices initially rising before closing lower; the Shanghai Composite Index fell by 0.25% to 4065.58 points, while the Shenzhen Component Index and the ChiNext Index dropped by 0.33% and 0.73% respectively [1] - The total trading volume in the Shanghai and Shenzhen markets was approximately 2.16 trillion yuan, a decrease of about 300 billion yuan from the previous day [1] Sector Performance - The tourism, liquor, and retail sectors collectively declined, while the oil, chemical, and power sectors showed strength [1] - The oil sector saw significant gains, with stocks like Zhuan Oil and Intercontinental Oil rising to their daily limits; Zhuan Oil opened at the limit down but rebounded to close at the limit up, showcasing a "floor to ceiling" trading pattern [3][4] - The chemical sector also performed well, with Jiangtian Chemical rising nearly 12% and several other stocks hitting their daily limits due to price increases in various chemical products [7] - The lithium battery sector surged, with stocks like Zhenyu Technology and Wanrun New Energy rising over 10% [9][10] - The robotics sector was active, with stocks such as Kailong High-Tech and Tianqi Co. reaching their daily limits [13][14] Oil Market Insights - WTI and Brent crude oil futures both rose by over 1% [6] - Analysts predict that the Brent oil price will stabilize between $55 and $65 per barrel by 2026, while WTI is expected to range from $52 to $62 per barrel [6] Chemical Sector Dynamics - The chemical sector is experiencing price increases across multiple products, driven by the cancellation of export tax rebates, which has accelerated export activities [7] - The "anti-involution" policy is expected to strengthen supply-side constraints, benefiting certain sub-industries such as chlor-alkali, pesticides, and polyester filament [7] Lithium Battery Sector Outlook - The lithium battery sector is projected to improve in supply and demand dynamics by 2025, with product prices and corporate profitability expected to stabilize [11] - The average market price of battery-grade lithium carbonate has exceeded 140,000 yuan per ton, reflecting a 140% increase from the 2025 low [10] Robotics Sector Developments - The humanoid robot sector is gaining traction, with significant developments expected in 2026, including the mass production of Tesla's Optimus robot [15] - The upcoming Spring Festival Gala will feature a diverse lineup of robotics companies, indicating a growing interest and investment in this technology [15]

机器手手设计的天花板被捅破了！ 机器人领域迎来了一次颠覆性创新。可拆卸、可爬行、可双向抓取的机械手，首次真正实现了抓取与自主移 动的无缝融合。以后机器人捡东西，再也不用"伸手够"了，它能自己"爬过去拿"！ 传统机器手，到底被什么限制了？ 01. 人类的手被誉为灵巧的巅峰，但它有两个致命短板： 一是不对称设计。 依赖一个大拇指，另一边却无能为力。想单手拧瓶盖？难。想对称抓握螺丝刀？更难。 二是固定在手臂末端。 够不到的地方，就是够不到。东西掉进沙发底、滚到架子后？只能干瞪眼。 绝大多数仿人机械手也继承了这些限制。它们像高级工具，却无法自主移动、多对象抓取、快速切换形态。 但就在最近，一项发表在《Nature Communications》的研究，用一只"不像人手的机械手"，打破了所有规 则。 | Received: 5 April 2025 | Xiao Gao @ Kunpeng Yao2, Kai Junge 0 , Josie Hughes & Aude Billard 01 8 | | --- | --- | | Accepted: 4 December 2025 | | | Published onl ...

Group 1 - The core viewpoint is that the robotics ETF (562500) is experiencing a strong upward trend, with a current price of 1.057 yuan, reflecting a 1.148% increase from the opening price [1] - The ETF tracks 66 constituent stocks, with 52 stocks showing gains, indicating a robust bullish sentiment in the market [1] - The liquidity of the ETF is stable, with a trading volume of 9.37 billion yuan and a turnover rate of 3.79%, suggesting a positive outlook for the robotics sector [1] Group 2 - The field of embodied intelligence has become a focal point in global technological competition, with increased investments from Europe and the US in humanoid robotics [2] - The robotics ETF (562500) is the only robot-themed ETF in the market with a scale exceeding 20 billion yuan, covering various segments such as humanoid robots, industrial robots, and service robots [2] - Recent adjustments to the ETF's constituent stocks have increased the humanoid robot content to nearly 70%, successfully removing underperforming stocks and retaining high-quality ones [2]

Group 1 - The humanoid robot industry is expected to accelerate its commercialization, with 49 A-share humanoid robot companies being intensively researched by institutions since January 2026 [2] - Jingzhi Technology has launched its first full-size humanoid robot, Blot, which achieved a record speed of 10 meters per second, marking the fastest humanoid robot globally [2] - Li Xiang, chairman of Ideal Auto, announced that the upcoming Ideal L9 will transform from a passive tool to an active partner, integrating a complete technology stack for embodied intelligent robotics [2] Group 2 - Faraday Future has entered the robotics field by unveiling its first series of embodied intelligent robots at the National Automobile Dealers Association (NADA) event, including the Futurist, Master, and Aegis series [3] - Analysts from Great Wall Securities predict that 2026 will be a critical year for robot mass production, with leading domestic companies achieving breakthroughs that could resonate across related industries [3] - The robot ETF Huatai-PineBridge (159213) is highlighted as a tool for investors to access the humanoid robot market, with a high concentration of humanoid robots in its index [4] Group 3 - In the robot ETF Huatai-PineBridge, key stocks such as Koryo Technology and Tianzhihang-U have shown significant gains, with Koryo Technology hitting the daily limit and Tianzhihang-U rising over 9% [5]