Investment Rating - The report maintains an investment rating of "Outperform the Market-A" for the humanoid robot industry, indicating an expected return that will exceed the CSI 300 index by 10% or more over the next six months [3]. Core Insights - The Trump administration is accelerating the development of robotics technology, with significant statements from multiple government departments, suggesting a strong governmental push for AI and robotics as part of broader initiatives to enhance the U.S. position in global AI [1]. - Tesla's Optimus robot has demonstrated significant advancements, including a smooth running video and the showcasing of its humanoid dexterous hands at the NeurIPS conference, indicating progress that may lead to the release of Optimus V3.0 in Q1 2026 [2]. Summary by Sections Government Initiatives - The U.S. Commerce Secretary has met with robotics industry executives, emphasizing support for robotics and advanced manufacturing as key to bringing production back to the U.S. [1] - The U.S. Department of Transportation plans to announce a robotics working group, potentially enhancing the industry's development [1]. Tesla's Optimus Developments - On December 3, Tesla's Optimus team released a video showing the Optimus V2.5 robot running smoothly, marking a significant improvement in its movement capabilities [2]. - The humanoid hands of Optimus, featuring 22 degrees of freedom, were showcased at the NeurIPS conference, demonstrating advanced dexterity comparable to human hands [2]. Investment Focus - As the production timeline for Optimus V3.0 approaches, the report suggests focusing on the supply chain related to Tesla, including companies like Sanhua Intelligent Controls, Top Group, and Hengli Hydraulic [3].

行 业 研 究 2025 年 12 月 07 日 投资评级：看好（维持） 行业走势图 -19% 0% 19% 38% 58% 77% 2024-12 2025-04 2025-08 电子 沪深300 数据来源：聚源 相关研究报告 《Gemini 3.0 强化 TPU 降本逻辑，AI 眼镜有望迈向起量元年—行业周报》 -2025.11.30 《NV 业绩强劲、谷歌发布 Gemini3， 算力景气度持续验证—行业周报》 -2025.11.23 《摩尔线程上市在即、沐曦 IPO 获批， 国产算力进入快车道—行业周报》 -2025.11.16 AI 端侧产品密集出新，国产算力初创公司资本化加速 ——行业周报 陈蓉芳（分析师） 祁海超（联系人） chenrongfang@kysec.cn 证书编号：S0790524120002 qihaichao@kysec.cn 证书编号：S0790125070022 市场回顾：电子板块企稳回升，全球科技指数修复 本周（2025.12.1-2025.12.5）电子行业指数涨 1.17%，受益于 AI 眼镜催化与面板 行业供需格局改善，光学光电领涨，涨幅达 4.28%，消费电子涨 1. ...

1.【蓝箭航天发布朱雀三号重复使用遥一运载火箭首飞全流程记录视频】12月6日，蓝箭航天对外发 布朱雀三号重复使用遥一运载火箭首飞全流程记录视频。蓝箭航天表示，朱雀三号重复使用遥一运载 火箭完成入轨飞行任务的同时，一子级按计划开展了垂直回收技术的飞行验证。"过程中，一子级成 功经受住了可回收技术中最具挑战性的'超音速再入气动滑行阶段'。在经历最大动压等严苛考验下， 箭体结构热防护、总体气动布局以及姿态控制系统均表现稳定，相关设计经受住了真实飞行环境的考 验。同时，火箭在再入点火段、气动滑行段基本实现对着陆场坪回收点的高精度制导控制，验证了冷 气反作用控制系统、栅格舵联合复合控制策略和制导算法的正确性。" 2.【领益智造全资子公司赛尔康与宝安区政府签署合作框架协议】12月5日，2025深圳全球招商大会 在深圳会展中心（福田）举办。活动现场，深圳市宝安区政府与领益智造全资子公司赛尔康技术（深 圳）有限公司正式签署合作框架协议。根据协议，宝安区政府将把赛尔康在深增资扩产布局项目列为 重点项目，提供国际化的营商环境和服务，助力企业稳定发展。赛尔康则将整合优势资源，以外资形 式加大投资力度，扩大智能工厂规模，设立高价值人 ...

Group 1 - The core viewpoint of the article highlights the strategic acquisitions and expansions of Lingyi Zhizao, led by CEO Zeng Fangqin, into the electric vehicle and robotics sectors, showcasing a proactive approach to diversifying business operations and reducing reliance on a single client like Apple [5][10][24]. - Zeng Fangqin's acquisition of Zhejiang Xianglong for 2.4 billion yuan marks a significant step in enhancing Lingyi Zhizao's position in the automotive supply chain, transitioning from a Tier 2 to a Tier 1 supplier [5][11][24]. - The company has achieved impressive financial results, with a revenue of 37.59 billion yuan in the first three quarters of 2025, reflecting a year-on-year growth of 19.25%, and a net profit of 1.941 billion yuan, up 37.66% [16][24]. Group 2 - Lingyi Zhizao's strategic shift from consumer electronics to the automotive industry is driven by the recognition of the risks associated with over-reliance on a single major client, prompting diversification into high-potential sectors like electric vehicles [24][25]. - The company has also made significant strides in the robotics field, with successful participation in competitions and the development of humanoid robots, indicating a commitment to innovation and technological advancement [13][28]. - Lingyi Zhizao's extensive investment in research and development, with approximately 60 billion yuan over three years and a workforce of around 6,000 R&D personnel, underpins its competitive edge and ability to pivot across industries [33][34].

Core Viewpoint - The cooperation framework agreement signed between the Bao'an District Government and Seiko Technology (Shenzhen) Co., Ltd. aims to enhance investment and development in the region, focusing on high-value AI hardware innovation and smart manufacturing [1] Group 1: Agreement Details - The Bao'an District Government will prioritize Seiko's investment expansion project as a key initiative, providing an international business environment and services to support stable development [1] - Seiko Technology plans to integrate resources and increase investment in the form of foreign capital, expanding the scale of its smart factory [1] Group 2: Strategic Focus - The company will establish a high-value AI hardware innovation and research center, focusing on manufacturing lines for mobile phones, headphones, and smart wearable devices [1] - The initiative aims to create a new industrial base that connects the Greater Bay Area and radiates globally, promoting the transformation and upgrading of manufacturing in Bao'an District and Shenzhen [1]

每经头条（nbdtoutiao）——秒光、售罄！银行大额存单成稀缺资源，2%以上产品很难抢，有的门槛高 达1000万元！专家：存款利率或长期下行 （记者 曾健辉） 2025年1至6月份，领益智造的营业收入构成为：AI终端占比88.32%，其他占比6.68%，汽车及低空经济 占比5.01%。 截至发稿，领益智造市值为1082亿元。 每经AI快讯，领益智造（SZ 002600，收盘价：14.81元）12月5日晚间发布公告称，李儒谦女士因工作 调整，申请辞去公司证券事务代表职务，辞职后仍在公司担任其他职务，李儒谦女士的辞职报告自送达 公司董事会之日起生效。公司董事会同意聘任熊俊杰先生为公司证券事务代表，与公司现任证券事务代 表毕冉先生共同协助董事会秘书开展各项工作。 ...

Group 1: Major Transactions - Bohai Chemical is planning to sell 100% equity of Tianjin Bohai Petrochemical and acquire control of Anhui Taida New Materials through a combination of share issuance and cash payment, leading to a significant asset restructuring [1] - Zhongneng Electric is set to acquire 65% equity and debt from three companies, which may constitute a major asset restructuring but will not involve share issuance or change in control [4] - Hai Tai Development has decided to terminate the acquisition of controlling interest in Zhixueyun Technology due to disagreements on key terms, ensuring no adverse impact on normal business operations [5] Group 2: Performance Updates - Wen's shares reported a sales revenue of 3.324 billion yuan from meat chickens in November, marking a year-on-year increase of 10.18% [6] - Shuguang shares saw a 71.07% year-on-year increase in vehicle sales, totaling 207 units in November [6] - Muyuan shares experienced a decline in sales revenue from commodity pigs, reporting 9.39 billion yuan, a decrease of 20.43% year-on-year [6] - Pengding Holdings reported a 5.58% year-on-year decrease in consolidated revenue for November [6] Group 3: Industry Developments - Xiangxi Dairy reported a 6.3% month-on-month increase in fresh milk production in November, although it saw a year-on-year decline of 6.47% [7] - Baisheng Intelligent plans to acquire 51% equity in Zhongke Shengu, which focuses on the research and application of core technologies for embodied intelligent robots [7]

上纬新材：拟2600万元购买智元创新ARM嵌入式软件及通信中间件软件代码使用权 上纬新材公告称，公司拟与关联方智元创新签订《许可协议》，智元创新将其拥有的"ARM嵌入式软件 及通信中间件软件代码"授权公司使用，公司将支付智元创新合计2600万元的授权使用费。该交易构成 关联交易，但不构成重大资产重组。公司具身智能机器人业务当前处于开发阶段，尚未实现量产及规模 化销售，预计不会对2025年度业绩产生正向影响。公司目前已组建具身智能机器人研发团队，专注于面 向个人与家庭场景的产品开发（未面向工商业领域）。公司与关联方智元创新各自独立开展具身智能机 器人业务，应用场景不同，确保与关联方不构成重大不利影响的实质同业竞争。具身智能机器人行业发 展迅速，公司面临竞争加剧、技术迭代加速等巨大挑战，为加快产品开发速度，有必要通过本次交易， 进一步缩短产品开发周期，提升在新业务领域的综合竞争力。 今日焦点渤海化学：筹划出售渤海石化100%股权并购买泰达新材控制权，股票12月8日起停牌 渤海化学公告称，公司正在筹划出售天津渤海石化有限公司100%股权、通过发行股份及支付现金的方 式购买安徽泰达新材料股份有限公司的控制权。本次交易 ...

智元机器人发布灵 心平台，优必选再 获 1.43 亿元大单 分析师：陈传红 SAC:S1130522030001 chenchuanhong＠gjzq.com.cn 分析师：冉婷 产业研究中心 2025 年 12 月 5 日 SAC: S1130524100001 ranting＠gjzq.com.cn 产业研究周报 | 高端装备制造 1 | 证券研究报告 | 核心要点 产业前沿 11 月 24 日，智元机器人正式推出灵心平台（LinkSoul），让每个人都能像搭积 木一样，为机器人自由配置声音、性格、行为与记忆，打造独一无二的智能伙伴； 11 月 24 日，安徽中鼎控股子公司近期收到客户通知，智能热系统成为国内某两 家液冷系统集成商液冷假负载的供应商；11 月 25 日，优必选披露公司于 11 月 21 日中标广西防城港市人形机器人数据采集与测试中心和人工智能科创教育示 范项目，中标金额 2.64 亿元，产品以 Walker S2 为主；11 月 28 日，优必选成 功中标江西九江市人形机器人数据采集与训练中心项目，中标金额为 1.43 亿元。 资本风向 深圳叠动科技有限公司顺利完成新一轮增资扩股，隆盛科技 ...

深圳新闻网2025年12月5日讯（记者 刘玉莲）28个洽谈签约项目、投资总额958亿元、连续三年获评"招 商优胜区"……今天，2025深圳全球招商大会正式启幕，福田区作为主会场承载全球目光，向投资者递 出一张"城市合伙人"邀请函。 硬核成绩单：数据里的"福田引力" 作为粤港澳大湾区核心枢纽，深圳的行政、金融、文化、商贸和国际交往中心，本次招商大会，福田区 的吸引力，在数据中熠熠生辉： 洽谈签约项目共计28个，意向投资额958亿元；获评"2025招商优胜区"，福田区已连续三年获得该奖 项；西班牙桑坦德银行深圳分行、中国一汽研发总院湾区研发院获得"2024－2025优秀落户企业"；招银 金融资产投资有限公司项目、建设银行AIC母基金项目、中国资环集团电子电器资源综合利用平台项 目、北京同仁堂国药全球购运营中心项目等四个重大项目成功签约，涵盖金融、循环经济等前沿赛道。 将时间轴拉长，翻开福田区2025年全年的成绩单，"四个大幅增长"的爆发力令人惊叹：今年以来，福田 区落地项目超460个，意向投资额近1400亿元、增长61％；落地金融机构122家、增长1．3倍；世界500 强项目17个、增长88％；引进亿元以上项目2 ...