Core Viewpoint - The establishment of the "Embodied Intelligence Laboratory" by AsiaInfo Technology and ABB Robotics aims to integrate Physical AI with advanced technologies to enhance industrial manufacturing and digital transformation [1] Group 1: Partnership and Collaboration - AsiaInfo Technology and ABB Robotics have jointly launched the "Embodied Intelligence Laboratory" in Beijing [1] - The collaboration focuses on merging AsiaInfo's 5G-A communication, cybersecurity, and AI applications with ABB's automation technology [1] Group 2: Technological Integration - The laboratory will utilize Alibaba Cloud's large models and NVIDIA's accelerated computing technology for training and optimization [1] - The initiative aims to create a new paradigm for industrial intelligence by transitioning Physical AI from the laboratory to factory settings [1] Group 3: Innovation Chain - The laboratory will operate on an innovation chain that includes technology research and development, achievement transformation, and industrial implementation [1] - The goal is to empower the digital transformation of industrial manufacturing through the integration of various advanced technologies [1]

亿欧汽车重磅发布《2026中国科技出行产业10大战略技术趋势展望》报告，旨在为产业链决策者提供一份面向未来的关键行动指南。 本报告从企业降本增效、用户体验升维、生态协同创新三大战略维度出发，深度解构2026年产业竞争格局重塑背后的核心技术驱动力。 在智能化、电动化与人工智能技术加速融合的浪潮下，中国科技出行产业正迎来一场深刻的系统性变革。 在全球汽车产业竞争加剧、技术迭代加速、价格压力与盈利模式重塑并行的背景下，产业正由增量扩张阶段转入以效率、规模与体系能力为核心的高质量 发展阶段。 基于对产业链长期跟踪研究、与行业专家以及多家企业的深度调研交流，亿欧汽车研究院持续多年发布科技出行与汽车智能化相关技术趋势报告，形成了 对产业演进路径的系统性洞察。 在此基础上，亿欧汽车重磅发布《2026中国科技出行产业10大战略技术趋势展望》报告，旨在为产业链决策者提供一份面向未来的关键行动指南。 本报告从企业降本增效、用户体验升维、生态协同创新三大战略维度出发，深度解构2026年产业竞争格局重塑背后的核心技术驱动力。 趋势一： Chiplet重构车载芯片架构， 打造智能汽车超级大脑 传统单芯片SoC已难以支撑 L3+自动驾驶 ...

Core Viewpoint - The establishment of the "Embodied Intelligence Laboratory" marks a significant step in the strategic collaboration between AsiaInfo Technology and ABB Robotics in the field of Physical AI, with support from Alibaba Cloud and NVIDIA for technological backing [1][2] Group 1: Laboratory Establishment - The laboratory was officially inaugurated on January 25, 2026, symbolizing the practical implementation of the partnership between AsiaInfo Technology and ABB Robotics [1] - The laboratory aims to integrate AsiaInfo's strengths in AI applications, 5G-A communication technology, and cybersecurity with ABB's expertise in robot control [1] Group 2: Technological Collaboration - The collaboration will leverage Alibaba Cloud's visual-language-action (VLA) large model and NVIDIA's simulation platform to focus on industrial simulation and Physical AI [1] - The goal is to overcome the limitations of intelligent agents in complex real-world scenarios regarding perception, decision-making, and execution capabilities [1] Group 3: Industry Impact - The laboratory is expected to create a full-chain innovation system that encompasses technology research and development, result transformation, and industrial application [1] - The establishment of the laboratory is anticipated to enhance cooperation with partners like ABB Robotics, Alibaba Cloud, and NVIDIA, driving the application of Physical AI in manufacturing [2]

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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 AsiaInfo Technologies Limited 亞信科技控股有限公司 （於英屬維爾京群島註冊成立的有限公司） （股份代號：1675） 股東及本公司潛在投資者買賣本公司股份時務請審慎行事。 承董事會命 亞信科技控股有限公司 主席兼執行董事 田溯寧博士 北京，2026年1月26日 自願公告 關於亞信科技與ABB機器人共建「具身智能實驗室」 本公告乃由亞信科技控股有限公司（「本公司」，連同其附屬公司（「本集團」或「亞信 科技」））自願作出，以知會本公司股東（「股東」）及潛在投資者有關本集團的最新業 務發展。 本公司董事（「董事」）會（「董事會」）欣然宣佈，於2026年1月25日，亞信科技與ABB 機器人（「ABB機器人」）聯合發起的「具身智能實驗室」（「實驗室」）成立儀式隆重舉 行，標誌著亞信科技與ABB機器人在Physical AI（物理AI）領域的戰略合作邁入實 質性落地階段。阿里雲、英偉達出 ...

Core Viewpoint - Jumpshare Star has completed a significant financing round of over 5 billion RMB, marking the highest single financing amount in China's large model sector in the past 12 months, amidst a tightening investment environment [2][5] Financing Details - The financing will be directed towards the development of leading foundational models and exploring new forms of AI and hardware integration through terminal agents [2] - The investment round was led by the State Investment Fund, with participation from various state-owned and industrial capital entities, as well as existing investors like Tencent and Qiming Venture Partners [5][6] - In 2025, only three companies in the large model sector completed financing rounds exceeding 1 billion RMB, highlighting the cautious investment climate [5] Leadership Changes - Yin Qi, a prominent figure in China's AI industry, has been appointed as the chairman of Jumpshare Star, indicating a strategic alignment between Jumpshare Star and Qianli Technology [2][4] - Yin Qi's experience in both foundational models and hardware makes him a unique leader capable of bridging algorithmic depth and manufacturing breadth [4] Strategic Focus - Jumpshare Star's long-term strategy emphasizes foundational large models and AI+ terminal integration, with a core matrix of 1+2 focusing on language foundational models and multimodal capabilities [3] - The company has released over 30 large model products in just over two years, positioning itself as a leader in multimodal AI [8] Commercialization Efforts - The company is actively pursuing commercialization through various avenues, including smart terminals and enterprise-level applications, as it recognizes that technological imagination alone is insufficient for long-term valuation [12][13] - The current shareholder structure indicates a strong financial backing, with many investors capable of further funding, which is crucial for future growth [13]

Core Viewpoint - The appointment of Yin Qi as chairman of Jiyue Xingchen and the completion of a B+ round financing exceeding 5 billion RMB signifies a strategic move in the AI industry, particularly in the integration of AI with physical applications like automotive technology [6][11]. Group 1: Company Developments - Yin Qi, co-founder of Megvii Technology, has taken on dual leadership roles, overseeing both Jiyue Xingchen, a major player in AI models, and Qianli Technology, which focuses on AI applications in vehicles [6][11]. - Jiyue Xingchen has been recognized as a significant contender in the AGI sector since its establishment in 2023, attracting top talent and achieving notable success with its Step series models [13][21]. - The collaboration between Qianli Technology and Jiyue Xingchen aims to create a comprehensive ecosystem from foundational models to practical applications, enhancing the deployment of AI capabilities in the physical world [11][21]. Group 2: Market Context - The AI model startup landscape in China is diversifying, with companies like Mini Max and Zhipu achieving public listings and focusing on different market segments, indicating a clear differentiation in strategies [19]. - Despite the advancements, all companies in the AI sector face the challenge of achieving self-sustaining business models, emphasizing the need for practical applications and revenue generation [19][21]. - The integration of AI capabilities into hardware, particularly in smart vehicles, is seen as a promising avenue for growth, with Qianli Technology leading initiatives in intelligent driving and related technologies [18][21].

Core Viewpoint - The article discusses the current landscape of domestic AI companies, particularly focusing on the potential of the company "阶跃星辰" (Step O) in the AI and hardware integration space, highlighting its recent funding success and strategic positioning in the market [1][3][4]. Group 1: Company Overview - Currently, there are four notable domestic AI companies: 智谱 (Zhipu), Minimax, 月之暗面 (Moon's Dark Side), and 阶跃星辰 (Step O) [1]. - 阶跃星辰 has recently secured over 5 billion RMB in B+ round financing, marking the highest single financing record in the large model sector over the past 12 months [1][3]. - The company is perceived as a low-profile player, focusing on technology and industry rather than consumer-facing marketing [5]. Group 2: Investment Landscape - The investment landscape for 阶跃星辰 includes notable backers such as Tencent and Qiming Venture Partners, indicating strong support from both internet giants and professional financial investors [4]. - The funding round attracted a diverse range of investors, including industry leaders like 华勤技术 (Huaqin Technology) and state-owned enterprises, showcasing a blend of market-driven and state-backed investment [4]. Group 3: Industry Trends - The article emphasizes the shift towards "Physical AI," which integrates AI capabilities with physical hardware, as a significant trend in the industry [8][10]. - The focus on AI-enhanced hardware, particularly in smartphones and vehicles, is highlighted as a key area for growth, with predictions of substantial market expansion in AI-enabled devices [13][15]. Group 4: Business Model and Market Position - 阶跃星辰 aims to create a comprehensive AI + terminal solution, positioning itself similarly to Tesla's approach, targeting a multi-billion dollar market opportunity [7][15]. - The company has established partnerships with over 60% of domestic smartphone manufacturers, indicating a strong market presence and integration of its AI models into various devices [15][23]. - The business model is based on a combination of one-time engineering fees and API consumption, aligning incentives for both 阶跃星辰 and its partners to enhance user experience [23]. Group 5: Team and Leadership - 阶跃星辰's leadership team includes experienced professionals from major tech companies, enhancing its capability in AI and product development [24][27]. - The CEO, a former global vice president at Microsoft, brings significant expertise in natural language processing and product management, which is crucial for the company's growth [24]. - The team’s focus on Physical AI and deep integration with hardware sets 阶跃星辰 apart from other AI companies, positioning it as a leader in the domestic market [27][28].

Summary of the Conference Call on Robotics and Physical AI Industry Overview - The discussion centers around the **industrial robotics industry**, highlighting a significant shift in adoption since 2020, referred to as a **Robot Renaissance** [1][16]. - The industry is experiencing a new phase driven by advancements in **AI**, which is expected to elevate the **compound annual growth rate (CAGR)** to the low-teens and significantly increase the **total addressable market (TAM)** [1]. Key Points and Arguments - The original Robot Renaissance transitioned from **pre-programmed, fixed paths** to **real-time flexible path planning**, enabling applications like **machine tending, palletizing, and smart welding** [2][6]. - The next phase will focus on **complex task planning**, allowing robots to perform tasks requiring higher cognitive functions, such as **long-sequence, high dexterity tasks** and **collaborations between machines and humans** [2][6]. - Without these advancements, growth in the industrial robot sector would likely slow to single digits. The forecast predicts a **10-year CAGR of 12%**, sustaining beyond the next decade [2][11]. - There is a notable variance in **robot penetration** across different industries, indicating significant growth potential as enhanced flexibility in robots narrows this gap [2][6]. Technological Insights - **Physical AI** is identified as the enabling technology for the new Robot Renaissance, comprising a multi-layer AI ecosystem that includes: 1. **Robots and their digital twins** 2. **Task/path planning software** powered by multimodal AI 3. **Sensors** for collecting physical data 4. **Digital representations of environments** for simulating interactions [3][30]. - The demand for **sensors**, both vision and non-vision, is expected to rise significantly to support advanced robotic functions [4][38]. Industry Players and Collaborations - Key beneficiaries of the trends in physical AI include **FANUC, Keyence, and Mech-Mind** [5][35]. - Leading robot manufacturers like **FANUC** are expanding into the **brain layer** of physical AI and seeking collaborations, as evidenced by their recent partnerships with **NVIDIA** and the adoption of **ROS2** [4][38]. Investment Implications - The report recommends an **Outperform** rating for companies such as **FANUC, Keyence, Inovance, Cognex, Hikvision, and Harmonic Drive**, while suggesting a **Market Perform** rating for **Estun** [51]. Additional Insights - The report emphasizes that while **Physical AI** expands robot capabilities, it does not disrupt existing robot manufacturers, as the core motion control algorithms remain essential [4][38]. - The distinction between the **"brain"** and **"world"** models is crucial, with different players serving each layer, which is often misunderstood [4][38]. - The report highlights the importance of **sensor technology** in enhancing robotic task planning and building the digital environment models [4][38]. This summary encapsulates the key insights and implications from the conference call regarding the industrial robotics sector and the transformative role of physical AI.

Summary of Key Points from the Conference Call Industry Overview - The conference focused on advancements in the robotics and autonomous vehicle (AV) sectors, particularly in North America, highlighting the importance of AI-enabled consumer electronics manufacturing for competitiveness in commercial, industrial, and military applications [1][2]. Core Insights - **RoboFest Event**: The event showcased various firms pushing the boundaries of physical AI, emphasizing the need for the U.S. to lead in AI-enabled manufacturing [1]. - **Autonomous Construction**: Bedrock Robotics highlighted the significance of autonomous construction equipment, suggesting that human progress will depend on the ability to move earth and build structures efficiently [4]. - **Cobot Technology**: The potential of collaborative robots (cobots) was discussed, focusing on their ability to solve simple problems and gather data quickly [4]. - **Joby Aviation**: The company demonstrated pilotless electronic vertical take-off and landing flights, indicating advancements in urban air mobility [4]. - **Warehouse Automation**: Mytra's technology for warehouse automation was noted as a high ROI opportunity, capable of lifting heavy pallets efficiently [4]. - **Consumer AI**: Wayve's approach to consumer-owned AI-enabled autonomy was highlighted, with legacy OEMs taking notice of its potential [4]. - **Tesla's Robotaxi**: Tesla's decision to operate robotaxis without a driver, relying solely on cameras, was described as an 'AlphaGo moment' for autonomy, indicating a significant shift in the industry [4][5]. Market Dynamics - **Insurance Industry Impact**: The move by Lemonade AV insurance to price autonomous driving risk similarly to human driving risk could lead to a significant increase in AV adoption, as insurance companies base pricing on data rather than emotions [5]. - **Hyundai's Stock Performance**: Hyundai's shares increased by 70% year-to-date, driven by excitement around humanoid robotics, showcasing the untapped potential in unique datasets and advanced manufacturing beyond traditional automotive applications [5]. Additional Insights - **Investment Opportunities**: The discussions indicated a growing interest in robotics and autonomous technologies, suggesting potential investment opportunities in companies that are innovating in these areas [4][5]. - **Global Movement**: The RoboFest event is part of a broader global movement, with future stops planned in Israel, Los Angeles, Austin, and Miami, indicating the international interest in robotics [2]. Conclusion - The conference highlighted the transformative potential of robotics and autonomous vehicles, with significant implications for various industries, including construction, transportation, and insurance. The advancements in technology and shifts in market dynamics present both opportunities and challenges for investors and companies in these sectors.

Core Insights - The AI industry in China is witnessing a clear division among leading companies, particularly with the recent appointment of Yin Qi as chairman of the AI startup Jumpspace, while also leading Qianli Technology [1][6]. Group 1: Leadership and Strategic Moves - Yin Qi, co-founder of Megvii and now chairman of Qianli Technology, has taken on the role of chairman at Jumpspace, indicating a strategic focus on integrating AI with physical products [1][3]. - Jumpspace, founded in 2023, is recognized as a significant player in the AGI sector, attracting top talent and achieving notable success in international model evaluations [3][5]. Group 2: Company Developments and Collaborations - Qianli Technology has been actively collaborating with Geely and has launched the "Qianli Haohan" intelligent driving system, marking its entry into commercial solutions [5][6]. - The recent launch of the G-ASD brand at CES 2026 signifies Qianli's commitment to bringing its intelligent driving solutions to market [5]. Group 3: Industry Trends and Challenges - The AI model industry is facing challenges, including a lack of real-world applications and data, while terminal companies require advanced AI capabilities [7]. - The combination of Jumpspace's AI expertise and Qianli's engineering capabilities is expected to enhance the practical application of AI technologies in vehicles and robotics [7][6]. Group 4: Personal Background and Vision - Yin Qi's background in software and sensor research reflects a strong interest in the intersection of AI and the physical world, emphasizing a long-term vision for practical applications [7][8]. - Despite past commercial challenges, Yin Qi maintains a consistent judgment approach, focusing on delivering clear customer and business value [8].