天太机器人是一家专注于机器人核心运动单元和运动技术方案的专精特新企业，目前依托其自有的精密传动、电 机、驱动、运控、材料等技术，开发了系列一体化、高性能、低能耗的模块化产品，掌握了从机器人零部件、模 组到整机的全链条研发制造能力，获得专利200余项，主导和参与制定了多项相关国家标准。天太公司提供一体化 模组和完整解决方案，核心技术包括行星滚柱丝杠、谐波减速器、无框力矩伺服电机等，可以应用在无人叉车、 协作机械臂、机器人等领域。 此次华民股份对天太机器人进行股权投资，是公司在硬科技领域的关键战略落子，象征着双方在技术协同、产业 融合方面开启了全新篇章。未来，公司将依托自身平台优势与天太机器人的技术积累，持续加码在机器人领域的 投入布局，不断强化全链条制造能力与市场拓展水平，共同探索智能物流机器人及人形机器人等场景的商业化落 地路径，为我国机器人产业创新发展注入华民动能，助力抢占全球高端产业竞 争新赛道。 2025智能机器人关键技术大会 大会接受各项商务合作，欢迎垂询具体合作形式。 张老师：13305713232（微信同号） 谷老师：18355423366（微信同号） 详细会议介绍参看往期文章： （点击蓝字跳转） ...

中新网宁波6月14日电 (张斌)6月13日，浙江省宁波市发布第20次"宁波创业创新风云榜"榜单。榜单共包 含"数字经济三十佳"、"未来产业之星"、"民营企业'青蓝接力'十佳"等38个奖项。 均胜集团董事长王剑峰介绍了其与上海智元新创合资成立普智未来公司、并负责建设宁波具身智能机器 人创新中心的情况。 会上，涉及民营企业高质量发展、深化"两新"融合推进新型工业化、支持服务业高质量发展的三份政策 文件同步向与会企业家征求意见，内容涵盖提升投资服务效率、加大信贷支持、鼓励参与科技攻关等。 中基惠通总裁应秀珍在发言中肯定了宁波的营商环境，认为其是成就宁波"全国外贸第五城"的重要因 素。她介绍，在政府服务和产业生态的支持下，公司今年1至5月实现出口额7.2亿美元，同比增长9%。 宁波官方表示，当地将持续优化营商环境，重点在降低成本、强化要素保障、优化机制、提升效率、加 强法治保障、促进公平竞争、防范化解风险等方面加大力度，核心在于服务好现有企业的发展。(完) （文章来源：中国新闻网） 这些榜单不仅是对企业的肯定，更指明了未来经济发展的方向。在推动科技创新与产业创新深度融合的 过程中，民营企业发挥着核心作用。 企业代表分 ...

Core Insights - The article discusses the measures implemented by the Zhejiang Provincial Department of Commerce to support the gaming industry's international expansion, effective from July 10, 2024 [1][2] - It highlights the success of the game "Black Myth: Wukong," which has sold over 10 million copies globally, marking a significant achievement for Chinese gaming [2] Group 1: Policy Measures - The measures cover various aspects of the gaming industry, including development, platforms, and ecosystems, with a focus on targeted and actionable initiatives [1] - The policy aims to enhance institutional openness by exploring innovative mechanisms for cross-border settlement and data flow [1] - It promotes the internationalization of the gaming industry through cultural and technological integration, marketing support, and targeted strategies for development and operation [1][2] Group 2: Industry Performance - In 2024, China's self-developed games generated overseas sales revenue of $18.557 billion, reflecting a year-on-year growth of 13.39% [2] - Guangdong Province, as the largest gaming market in China, reported gaming industry revenue of 260.4 billion yuan, accounting for nearly 80% of the national market share [2] - The emergence of "Black Myth: Wukong" has shifted perceptions of Zhejiang's gaming industry, potentially attracting more gaming companies to the region [2][4] Group 3: Future Development - Zhejiang aims to enhance the gaming industry's capabilities by optimizing the ecosystem and talent resources, focusing on the development of headquarters and benchmark enterprises [4] - The province supports the development of original high-quality games and cultural IPs, emphasizing the creation of 3A game projects with strong cultural attributes and growth potential [4]

Core Viewpoint - The company, Suzhou Mediston Medical Technology Co., Ltd., is planning to expand its business scope to include the research and development of intelligent robots, manufacturing and sales of service consumer robots, and sales of intelligent unmanned aerial vehicles, in order to accelerate its innovative business development [1][2]. Group 1: Business Scope Changes - The company intends to add the following activities to its business scope: research and development of intelligent robots, manufacturing of service consumer robots, sales of service consumer robots, and sales of intelligent unmanned aerial vehicles [1]. - The previous business scope included the research and development of medical devices, computer software and hardware, medical robot navigation systems, minimally invasive surgical platform systems, and mechatronic products, among others [1]. - The updated business scope will still encompass the original activities while incorporating the new areas of focus [1]. Group 2: Company Charter Revision - The company will revise its Articles of Association to reflect the changes in its business scope [1]. - Other provisions in the Articles of Association will remain unchanged [1]. - The proposed changes will require approval from the shareholders' meeting and must be registered with the market supervision administration [2].

Group 1: Market Overview - The equity market experienced narrow fluctuations on June 12, with mixed performance across the three major indices. The total trading volume in the Shanghai and Shenzhen markets reached 1.27 trillion yuan, an increase of 163 billion yuan compared to the previous trading day. Over 2800 stocks declined, indicating a predominance of losses among individual stocks [1][4]. Group 2: Economic Development Initiatives - The Jiangsu Provincial Market Supervision Administration released a key task list aimed at promoting the development of the private economy, outlining 43 priority tasks across seven areas. The approach focuses on "integrated supply chains, specialized offerings, and brand empowerment" to create a supportive environment for private sector growth [3]. - In the first five months of this year, Jiangsu's total goods trade import and export value reached 2.33 trillion yuan, a year-on-year increase of 5.3%, surpassing the national growth rate of 2.8%. Exports amounted to 1.55 trillion yuan, up 9.6%, while imports totaled 777.58 billion yuan, down 2.4% [3]. Group 3: Industry Developments - Nanjing announced plans at the 2025 Intelligent Robot Development Conference to elevate the core industry scale of embodied intelligent robots to 10 billion yuan by 2027, aiming to cultivate at least five mass production enterprises and establish itself as a leading "robot city" in the country [3]. - The report "Data on the Yangtze River Delta 2025" indicates that the per capita GDP in the Yangtze River Delta is expected to reach 139,400 yuan in 2024, an increase of 44,300 yuan since 2018, indicating significant economic growth in the region [5].

证券研究报告 点评报告 2025 年 6 月 13 日 晨会纪要 第一创业证券研究所 电话：010-63197789 邮箱：lihuaijun@fcsc.com 核[心Ta观bl点e_：Summary] 一、宏观经济组： 事件： 第 1 页 共 4 页 6 月 11 日（星期三）晚 8 点半，美国劳工部统计局公布 5 月 CPI 数据；6 月 12 日 （星期四）晚 8 点半公布 5 月 PPI 数据。 评论： 5 月美国未季调 CPI 同比为 2.4%，预期 2.5%,前值（4 月）为 2.3%；季调后 CPI 环 比为 0.1%，预期为 0.2%，前值为 0.2%。 从 5 月核心 CPI 来看，未季调同比为 2.8%，预期为 2.9%，前值为 2.8%；季调后核 心环比为 0.1%，预期为 0.3%，前值为 0.2%。 5 月美国 CPI 未季调环比为 0.2%，前值为 0.3%；未季调核心 CPI 环比为 0.2%，前 值为 0.3%。从结构上看，能源 5 月环比为 0.1%，而前值为 1.5%；这导致交通运输 环比由 4 月 0.9%下跌至 5 月 0.2%；医疗保健由 0.4%下降至 0.2%，权 ...

Core Insights - Wuhan is emerging as a hub for industrial software development, with companies like Tianyu Software, Kaimu Software, and Yimo Technology breaking the long-standing foreign monopoly in fields such as CAD and MES, contributing significantly to the domestic industrial software landscape [1][8] - The upcoming Software Innovation Development Conference will feature the inaugural Yujia Mountain Forum, aimed at enhancing the "soft power" of high-end manufacturing [1] Group 1: Industrial Software Landscape - Over 50 industrial software companies are based in Wuhan, with 80% of them founded by teams or alumni from local universities [3][9] - Yimo Technology has developed a digital production management system for the mold industry, achieving over 50% market share in its category and even exceeding 80% in certain segments [8] Group 2: Educational and Research Contributions - The National Intelligent Design and CNC Technology Innovation Center at Huazhong University of Science and Technology is fostering collaboration between students and industrial software companies, addressing real-world manufacturing challenges [10][14] - The historical context of CAD development in Wuhan dates back to the 1980s, with significant contributions from alumni who established foundational research centers that have led to the growth of industrial software enterprises [14][15] Group 3: Future Prospects - There is a growing interest among teams from Wuhan universities in applying intelligent robotics, digital twins, and AI models to industrial scenarios, indicating a forward-looking approach to industrial software innovation [16]

点击按钮▲立即预约 美国5月CPI同比上涨2.4% 6月11日，美国劳工统计局发布的数据显示，美国5月CPI同比上涨2.4%，低于市场预期的2.5%，前值为2.3%；核心CPI同比上涨2.8%，低于市 场预期的2.9%，前值为2.8%。环比看，美国4月CPI上涨0.1%，低于市场预期的0.2%，前值为0.2%；核心CPI上涨0.1%，低于市场预期的 0.3%，前值为0.2%。 具体来看，新车和二手车价格均有所下降，服装价格也出现下降，导致5月核心CPI低于预期，一些预测者此前认为这两项会在5月显示出关税的 早期影响。交易员加大对美联储降息的押注，基本预计今年将降息两次，利率互换显示交易员预计美联储在9月份前降息的可能性为75%。（综 合澎湃新闻） ｜点评｜ 美国5月通胀上涨的速度出人意料的温和，市场此前普遍预期的"关税通胀"尚未完全展现。美国零售商们在5月仍然销售着美国关税上 涨之前的库存产品，沃尔玛等商店此前都表示将在6月左右再提高商品价格。5月国际原油价格继续走弱，美国消费市场出现降温倾向，服务业 价格涨幅放缓，缓解了家电、钢铁、玩具等部分受关税影响的产品价格涨幅。 随着美国逐渐与全球多国达成贸易协定，美 ...

Core Viewpoint - KedaLi is expanding into the field of embodied intelligent robotics by establishing a joint venture named Suzhou Yizhi Lingqiao Drive Technology Co., Ltd. with several partners, aiming to capitalize on the market potential of dexterous robotic hands [1][2]. Company Overview - KedaLi is a leading supplier of precision structural components for lithium batteries and has been involved in the research and production of these components for many years [2]. - The company has established long-term strategic partnerships with major domestic and international clients, including CATL, LG, Panasonic, and Tesla [4]. Financial Performance - KedaLi's revenue has increased over five times in the past four years, from 44.68 billion yuan in 2021 to 120.3 billion yuan in 2024, while net profit has grown over seven times from 5.42 billion yuan to 14.72 billion yuan [5]. - The company's operating cash flow has also improved significantly, reaching 21.48 billion yuan in 2024 [5]. - As of the first quarter of this year, KedaLi reported a year-on-year revenue growth of 20.46% to 30.22 billion yuan and a net profit increase of 25.51% to 3.87 billion yuan [5]. Investment and Joint Ventures - The registered capital for the new joint venture, Yizhi Lingqiao, is set at 50 million yuan, with KedaLi contributing 15 million yuan for a 30% stake [2]. - KedaLi has previously announced other joint ventures focused on robotics, including partnerships with Taiwanese companies to develop core components like harmonic reducers [3]. Market Outlook - The investment in the joint venture is based on the anticipated growth of the embodied intelligent robotics sector, particularly in the market for dexterous robotic hands [2].

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