证券日报网讯2月2日，智微智能（001339）在互动平台回答投资者提问时表示，公司境外客户主要集中 在欧洲及亚太区域。根据2025年半年度报告，公司营业收入中境外业务的占比为8.07%。 ...

Investment Rating - The industry investment rating is "Recommended," indicating an expected increase in the industry index by over 5% compared to the benchmark index in the next 3-6 months [19]. Core Insights - The launch of Clawdbot, an AI assistant capable of taking over devices and performing tasks autonomously, has generated significant market interest, achieving over 50,000 stars on GitHub within days of its release [2][4]. - The report highlights the importance of low-latency and secure infrastructure support for AI agents like Clawdbot, which is expected to benefit companies involved in cloud computing, AI data centers, computing power services, and content delivery networks [8]. Industry Overview - The computer industry consists of 337 listed companies with a total market capitalization of 64,957.50 billion and a circulating market capitalization of 58,620.09 billion [5]. - The absolute performance of the industry over the past 1 month, 6 months, and 12 months has been 13.7%, 22.6%, and 42.4% respectively, while the relative performance has been 10.3%, 7.0%, and 19.2% [6]. Key Companies to Watch - The report suggests focusing on companies that provide secure and low-latency infrastructure, including: 1. Cloud computing: Alibaba, NET, Deepin Technology, Kingsoft Cloud, New Idea Network Group, Yuke Data 2. AI Data Centers: Runze Technology, Baoxin Software, Data Port, Guanghuan New Network, Aofei Data, Yunsai Zhili 3. Computing Power Services: Kexin Data, Hongjing Technology, Dawi Technology, Youfang Technology, Litong Electronics, Zhiwei Intelligent 4. CDN: Wangsu Technology 5. Chips: Haiguang Information, Cambricon, Muxi Co., Tian Shuzhixin, Moer Thread, Longxin Zhongke 6. Large Models: Minimax, Zhipu, iFlytek [8].

Market Overview - The computer equipment sector experienced a decline of 1.04% on January 27, with the leading stock, Chunzhong Technology, falling significantly [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Stock Performance - Notable gainers in the computer equipment sector included: - Zhiwei Intelligent (001339) with a closing price of 57.14, up 5.00% and a trading volume of 105,000 shares, totaling 585 million yuan [1] - Tongwei Co. (002835) closed at 17.84, up 4.39% with a trading volume of 124,600 shares, totaling 219 million yuan [1] - Aerospace Intelligent Equipment (300455) closed at 29.09, up 3.86% with a trading volume of 339,900 shares, totaling 957 million yuan [1] - Conversely, significant decliners included: - Chunzhong Technology (603516) closed at 179.64, down 10.00% with a trading volume of 12,700 shares, totaling 228 million yuan [2] - Jinyi Technology (002869) closed at 24.12, down 7.48% with a trading volume of 132,800 shares, totaling 321 million yuan [2] - ST Yingfeit (002528) closed at 2.56, down 4.83% with a trading volume of 37,100 shares, totaling 950,090 yuan [2] Capital Flow - The computer equipment sector saw a net outflow of 2.1 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.513 billion yuan [2] - The capital flow for specific stocks indicated: - Langke Technology (300042) had a net inflow of 67.65 million yuan from institutional investors, but a net outflow of 47.16 million yuan from retail investors [3] - Zhiwei Intelligent (001339) experienced a net inflow of 47.59 million yuan from institutional investors, with retail investors also showing a net outflow of 27.14 million yuan [3] - Aerospace Intelligent Equipment (300455) had a net inflow of 29.92 million yuan from institutional investors, while retail investors showed a net outflow of 2.91 million yuan [3]

Group 1 - The A-share market saw a strong performance in DeepSeek concept stocks, with notable gains from companies such as Kaipu Cloud, which rose nearly 13%, and Huapei Power, which hit the daily limit with a 10% increase [1][2] - DeepSeek released a new model called DeepSeek-OCR 2, utilizing the innovative DeepEncoder V2 method, allowing AI to dynamically rearrange image components based on their meaning rather than scanning mechanically from left to right [1] - The new model outperformed traditional visual-language models in processing complex layouts, such as documents or charts, demonstrating enhanced intelligence and causal reasoning capabilities in visual understanding [1] Group 2 - Kaipu Cloud's market capitalization reached 18.4 billion, with a year-to-date increase of 39.76% [2] - Huapei Power's market capitalization is 8.186 billion, with a year-to-date increase of 14.27% [2] - Chipong Micro's market capitalization stands at 9.257 billion, with a year-to-date increase of 15.76% [2]

Group 1 - The A-share market saw a strong performance in DeepSeek concept stocks, with notable gains from companies such as Kaipu Cloud, Huapei Power, and Chipeng Micro [1][2] - Kaipu Cloud's stock increased by approximately 12.92%, with a total market capitalization of 18.4 billion [2] - Huapei Power reached a 10% increase, hitting the daily limit, with a market value of 8.186 billion [2] - Chipeng Micro's stock rose over 6%, with a market capitalization of 9.257 billion [2] Group 2 - DeepSeek released a new model called DeepSeek-OCR 2, which utilizes an innovative DeepEncoder V2 method to enhance AI's ability to dynamically rearrange image components based on their meaning [1] - This model outperforms traditional visual-language models in processing complex layouts, such as documents or charts, demonstrating superior intelligent and causal reasoning capabilities [1]

上市公司：中国长城（000066），浪潮信息（000977），新大陆（000997），魅视科技（001229），智 微智能（001339），纳思达（002180），证通电子（002197），大华股份（002236），电科网安 （002268），中威电子（300270），智迪科技（301503），中润光学（688307），萤石网络 （688475），三未信安（688489） 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据可知：2025年12月全国计算机、通信和其他电子设备制造业出口货值为5952.9亿 元，同比增长1.2%；2025年全国计算机、通信和其他电子设备制造业累计出口货值为63364.9亿元。 2019年-2025年全国计算机、通信和其他电子设备制造业出口货值统计图 相关报告：智研咨询发布的《2026-2032年中国通信设备行业市场行情监测及 ...

行 业 及 产 业 2026 年 01 月 26 日 行 业 研 究 / 行 业 点 相关研究 《整车出海、机器人预期强化；同时关注 业绩确定性白马——2026/1/12- 2026/1/18 汽车周报》 2026/01/19 证券分析师 戴文杰 A0230522100006 daiwj@swsresearch.com 黄忠煌 A0230519110001 huangzh@swsresearch.com 联系人 戴文杰 A0230522100006 daiwj@swsresearch.com 从成本到数据，机器人进步新范式 看好 ——机器人行业发展核心竞争力探讨 本期投资提示： 本研究报告仅通过邮件提供给 中庚基金 使用。1 评 ⚫ 新能源汽车与人形机器人两大硬科技产业具备高度同构性，2026 年人形机器人的发展 节点对标 2012-2014 年的新能源汽车，而新能源汽车的产业演进路径也为机器人行业 提供了清晰的阶段对标框架。二者均依托成熟大规模制造业与 AI 算法跃迁，国内新能 源车借国家战略驱动爆发，完成政策到市场、技术到生态的演进；2026 年机器人技术 刚迈过"可用"门槛，政策推动、资本热度空前，与彼 ...

工业行业周报、月报 2026 年 01 月 26 日 [Table_Title] 宇树人形机器人出货超 5500 台，马斯 克计划明年面向公众销售 Optimus ——人形机器人产业周报 [Table_Summary] 报告要点： 周度行情回顾 2026 年 1 月 18 日至 1 月 23 日,人形机器人概念指数上涨 3.00%,相 较沪深300指数跑赢 3.62pct;年初至今累计涨跌幅来看,人形机器人概 念指数上涨 9.68%,相较沪深 300 指数跑赢 8.11pct。 [Table_Main] 行业研究|工业 证券研究报告 A 股人形机器人指数（iFinD 概念）相关个股中，京基智农周涨幅 最大（+29.47%），东山精密周跌幅最大（-9.00%)。 周度热点回顾 政策端，深圳市地方金融管理局发布《深圳市关于保险业助力科技创 新和产业发展的行动方案（2026—2028 年）（征求意见稿）》；工信部 将发布人形机器人与具身智能综合标准化体系建设指南。 产品技术迭代方面，OpenAI 已建立人形机器人实验室；2025 全年， 宇树科技人形机器人实际出货量超 5500 台；意优科技在张江建设其 首条（也是 ...

Core Viewpoint - The trend of listed companies participating in fund establishment reflects their strategic need for transformation and expansion, showcasing long-term strategic vision [1] Group 1: Fund Establishment Trends - Nearly 60 listed companies have announced their participation in fund establishment or disclosed project progress this year [1] - Collaborating with professional institutions for joint investments is the mainstream approach for listed companies in fund establishment [2] - Companies like Tianjin Pengling Group and Ningbo Deye Technology have initiated funds with significant capital contributions, indicating a strong commitment to this trend [2] Group 2: Investment Strategies - Subscription to fund shares is also a significant method for listed companies to engage in fund investments [3] - Companies are leveraging partnerships with professional investment institutions to enhance resource allocation efficiency and capture market opportunities in new technologies and industries [3] - The involvement of professional institutions provides management experience and risk control capabilities, strengthening companies' resilience [3] Group 3: Focus on Emerging Industries - The robotics industry chain is becoming a popular investment area for listed companies establishing funds, with a focus on key components and various types of robots [4] - Other emerging industries such as new energy, new materials, semiconductors, and artificial intelligence are also core investment directions due to their growth potential [5] - Companies are strategically positioning themselves to secure core technologies and supply chains, thereby building a solid industrial moat [5] Group 4: Strategic Considerations - Listed companies need to balance strategic alignment with risk management when establishing funds, ensuring that investments align with long-term strategies [5] - The improvement of regulatory policies is expected to enhance the standardization of fund establishment by listed companies, optimizing the role of capital in empowering industries [5]

Industry Overview - The core industry scale of artificial intelligence in China is expected to exceed 1.2 trillion yuan by 2025, with over 330 humanoid robot products released [1] - The humanoid robot industry in China is accelerating, with a diverse technological route and multi-scenario coverage [1] - The number of domestic complete machine enterprises is expected to exceed 140 by 2025, marking it as the year of mass production for humanoid robots [1] Company Developments - Lens Technology Co., Ltd. has strong supply chain capabilities in the humanoid robot sector, providing comprehensive supply chain solutions for leading robot clients [2] - Shenzhen Zhiwei Intelligent Technology Co., Ltd. integrates high-performance AI chips and advanced software to enhance the capabilities of its robotic brain and control systems [2] Capital Raising Activities - Guangdong Jinma Amusement Co., Ltd. plans to raise up to 1.053 billion yuan through a private placement, with 454 million yuan allocated for the development and industrialization of cultural tourism robots [3] - Ningbo Junpu Intelligent Manufacturing Co., Ltd. has received approval for a private placement to raise up to 1.034 billion yuan, with 551 million yuan earmarked for the research and industrialization of intelligent robots [3][4] Market Outlook - The humanoid robot industry ecosystem in China is rapidly growing, driven by both policy and market forces, with applications expected to scale in industrial manufacturing, logistics, and healthcare [4]